This output expense provides advice on the effective and low-cost regulation of economic activity. It includes strategic and technical policy advice on the creation and maintenance of a regulatory environment that provides greater certainty for and positively encourages business innovation and growth.

Quantity, Quality, Timeliness and Cost

Work Programme

Policy advice projects were delivered in accordance with the terms of the work programme as agreed with the Minister. Changes to deadlines were negotiated with the Minister.

The following outputs were included in this output expense for 2005/06.

Business Environment, Business Law and Competition Policy

This output provides policy advice on corporate and commercial law, including capital markets, insolvency, intellectual property law, and competition law and policy, with the aim of enhancing opportunities for business to innovate and grow, allowing investors to make choices with confidence, and reducing the costs of doing business.

Business Law

Supporting the Insolvency Law Reform Bill and the Securities Trading Law Reform Bill through the parliamentary process.

The Insolvency Law Reform Bill was introduced into the House on 22 December 2005. The Commerce Select Committee reported back on the Bill on 10 August 2006. Officials are continuing work on the insolvency regulations and issues related to insolvency practitioners.

The Securities Legislation Bill which implements a new regime for insider trading, market manipulation, investment adviser disclosure and other improvements to securities trading law has had its second reading. The Bill is currently waiting for a Supplementary Order Paper for the Committee of the whole stage of the Bill. Its progress is dependent on priority given to it by the Leader of the House.

Assist in the adoption of International Accounting Standards through a review of the Financial Reporting Act and developing a more closely coordinated approach with Australia.

The Minister agreed to splitting the review of the Financial Reporting Act into two parts and to changes in timing. Cabinet agreed to Part 1 relating to amendments to the Financial Reporting Act in November 2005. These are to be implemented via the Business Law Reform Bill, which was introduced into the House in June 2006. Advice to the Minister of Commerce on Part 2, relating to issues around auditors and outstanding institutional arrangements, is anticipated by 30 June 2007. A discussion document is currently being developed and will be submitted for Cabinet approval for public release in early 2007.

New Zealand and Australia co-hosted an Asia-Oceania regional forum on international financial reporting standards. The Trans-Tasman Accounting Standards Advisory Group facilitated the completion of a cooperation and coordination agreement between Australian and New Zealand standards bodies. Work commenced on differences between the two countries' financial reporting frameworks.

Conduct a consolidated review of securities and insurance law, and regulation of non-bank finance institutions, and work with Treasury on the institutional trans-Tasman implications of strengthening prudential regulation.

The problem identification process was completed in July 2005. The Minister agreed to move the timing for Cabinet policy decisions back to 30 December 2006. This project also has links to the work under the innovation strategic priority relating to access to capital.

Finalising an Australia-New Zealand Mutual Recognition Treaty relating to securities offerings.

The Treaty was signed at the Finance Ministers' Meeting in February 2006. Cabinet decisions on regulations have been delayed as they are reliant on the Securities Bill being passed and on Australia implementing the regime within its legislation. It has also been agreed that Australia and New Zealand will publicly consult on draft legislation and regulations. The Securities Legislation Bill is currently waiting for a Supplementary Order Paper for the Committee of the whole stage of the Bill. There have also been delays in implementation on the Australian side associated with legislative processes.

Review the Memorandum of Understanding (MOU) on Business Law Coordination with Australia.

The review was completed and signed off at the Finance Ministers' meeting in February 2006. The signing of the revised MOU reaffirms both countries' commitment to coordination of trans-Tasman business law and setting new priority areas for potential further coordination.

Work with the State Services Commission (SSC) on generic work with Australia on joint institutional design.

A framework for choosing, designing and negotiating vehicles for trans-Tasman cooperation was submitted to Cabinet by 31 March. The SSC is leading the process on how to operationalise this framework.

Competition

Advance the programme of work arising from the recommendations of the Australian Productivity Commission research study on competition policy and law coordination.

Trans-Tasman information sharing and coordination is incorporated into the Commerce Commission (Information Disclosure and Fees) Bill which is being drafted by the Parliamentary Counsel Office. This is anticipated to be introduced into the House in late 2006. In addition, progress has been made on strengthening the relationship between the Australian Competition and Consumer Commission and the New Zealand Commerce Commission through the establishment of annual joint Commission meetings. Further work is being undertaken by the Australian New Zealand Leadership Forum Working Group on the development of a single track protocol for the consideration of trans-Tasman mergers. The Ministry continues to work closely with the Commerce Commission on these issues.

Intellectual Property

Advance institutional and intellectual property policy coordination with Australia.

A range of options for coordination with Australia in the patents area has been identified along with a set of criteria for assessing them. Non-legislative options are being considered in relation to trade marks and plant variety rights.

As a first step, priority is being given to exploring the possibility of contracting out some patent examination to Intellectual Property Australia (IP Australia). This is required because the Intellectual Property Office of New Zealand (IPONZ) may not be able to acquire sufficient patent examination capacity to implement the enhanced patentability criteria in the Patents Bill. Minister/Cabinet authority will be sought to pursue this option and to begin formal discussions with IP Australia.

In June 2006, a New Zealand patent attorney was appointed to the Australian Professional Standards Board for Patent and Trade Marks Attorneys, recognising the significant number of New Zealand practitioners registered and practising in Australia.

Advance the passage of the Copyright (Digital Technology and Performers' Rights) Amendment Bill.

The Bill has been approved by Cabinet for introduction to the House.

Advance the passage of the Geographical Indications (Amendment) Bill and Regulations.

The Bill was reported back to the House by the Foreign Affairs, Defence and Trade Select Committee on 29 May 2006 and is currently awaiting its third reading.

Advance the introduction of the Patents and Plant Variety Rights Bills.

Amendments to both Bills are currently being drafted by the Parliamentary Counsel Office following submissions on exposure drafts. Further amendments may be required depending on the outcomes of discussions with IP Australia about cooperation in the processing of patent applications, which may assist IPONZ to implement the more stringent criteria for the grant of patents.

Depending on the legislative timetable, the Ministry expects the Patents Bill could be introduced in the third quarter of 2006. The Plant Variety Rights Bill could be progressed more quickly than this.

Business Facilitation Policy

Regulatory Policy

Develop an educative web-based portal on regulatory policy design, including guidance material and links to international best practice websites.

The Policy Development Toolkit was launched on the Public Sector Intranet on 31 March 2006. Further development of quality assurance and marketing activities is being progressed under the governance of an interdepartmental steering group.

Standards and Conformance

Implement the recommendations of the inter-jurisdiction Review of the Trans-Tasman Mutual Recognition Arrangement (TTMRA).

The work programme to implement the TTMRA review recommendations was approved by the Cross Jurisdictional Review Forum (CJRF) in March 2006. The CJRF has completed updating the TTMRA User's Guide, which has been forwarded for endorsement by the Council of Regulatory Reform.

Conclude a review of New Zealand's standards and conformance infrastructure with a view to ensuring that it effectively meets its objective of reducing health, safety and environmental risks, and supports trade and innovation.

Following several rounds of discussions with infrastructure bodies and private sector stakeholders, a draft discussion document was submitted to the Minister of Commerce in June 2006. The review aims to evaluate New Zealand's standards and conformance infrastructure against New Zealand's specific requirements and international trends and emerging new models, and how the infrastructure can contribute to and improve the competitiveness of New Zealand suppliers of products and services to improve market access, innovation and quality.

Trade Policy and Rules

Support the negotiation of bilateral Free Trade Agreements (FTAs) by providing policy and negotiating expertise on tariffs, trade remedies, rules of origin, competition, intellectual property, government procurement and technical barriers to trade, with particular priority to the China FTA.

Seven rounds of negotiations with China have been completed. Texts are now being discussed for most chapters for which the Ministry is responsible.

In addition, the Trans-Pacific Strategic Economic Partnership (TPSEP) Agreement with Chile, Singapore and Brunei is now in effect following the introduction of new regulations for rules of origin and the completion of Tariff Amendment Orders to implement New Zealand's tariff reduction/removal commitments and to create a new Part II tariff concession for goods re-entered into New Zealand after repair or alteration.

Negotiations with Malaysia are largely complete. The negotiations between Australia, New Zealand and ASEAN are on track, with Australia and New Zealand seeking to agree on joint elements papers in many areas.

Assist New Zealand's negotiations on trade rules in the World Trade Organisation under the Doha Round.

During 2005/2006, the Ministry participated in eight Rules Negotiating Group meetings covering anti-dumping, subsidies and fish subsidies and also in the 6th Ministerial Conference in Hong Kong in December 2005. Throughout this period a Ministry representative played a key role as "Friend of the Chair" to the Chair of the Rules Negotiating Group.

New Zealand has continued to seek a constructive, bridge-building role in rules negotiations and to try to influence outcomes which are in New Zealand's interests.

Environmental Policy

This output provides policy advice on the impact of environmental measures on economic development with a particular focus on the Resource Management Act (RMA) and the Hazardous Substances and New Organisms Act (HSNO), climate change, and multilateral environmental agreements that impact directly on New Zealand businesses. In 2005/06 this output included the following.

Provide advice (in conjunction with the Ministry for the Environment and other interested parties) on measures to improve the RMA, particularly proposals to improve consent decision-making, ensuring that economic development aspects are represented along with other interests.

The Ministry of Economic Development, in conjunction with the Ministry for the Environment, commissioned a report by the Law and Economics Consulting Group (LECG), based on case study research, on the impacts of the Resource Management Act on economic performance.

Providing advice (in conjunction with the Ministry for the Environment and other interested parties) on measures to improve the operation of the HSNO for business.

The Ministry has continued its research on measures to improve the operation of the HSNO and its impact on the economy.

Crown Entity/Statutory Board Monitoring

Monitoring and reporting on the financial and/or non-financial performance of six Crown entities and four other boards was provided to the Minister. This included advice on role and functions, appointments and the overall contribution of each organisation to the Government's policy objectives. As appropriate to each organisation, these were reflected through:

the Statement of Intent;
the Memorandum of Understanding or Purchase/Output Agreement;
management reports (for reference as appropriate to the Minister);
meetings and reports to the Minister; and
the Annual Report.

In 2005/06 a total of 14 appointments were made, within agreed timelines, to Crown entity and other boards, as positions for renewal or appointment fell due.

Advice was provided on and appointments made to the following organisations:

Organisation	Completed Appointments
Crown Entities
Accounting Standards Review Board	0
Commerce Commission	2
Securities Commission	1
Standards Council	5
Takeovers Panel	2
Testing Laboratory Registration Council	0
Other Boards
Copyright Tribunal (the Ministry has an appointment role only)	0
Joint Accreditation System of Australia and New Zealand	1
Temporary Safeguard Authority	2
Trans-Tasman Accounting Standards Advisory Group	1

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	8,963	10,381	10,072	10,333
Other	138	138	144	146
Total Revenue	9,101	10,519	10,216	10,479
Expenses:
Annual appropriations	9,101	10,519	10,216	10,479
Other appropriations	-	-	-	-
Total Expenses	9,101	10,519	10,216	10,479
Net Surplus/(Deficit)	-	-	-	-

Sources of Revenue Other

	2006 Actual $000	2005 Actual $000
Inter-departmental cost recovery	137	62
Miscellaneous	7	84
Total Revenue Other	144	146

Major Budget Variances

The variance between 2005/06 and 2004/05 for actual expenses mainly reflects the changes referred to below. The variance is offset by the transfer of building policy functions to Vote: Housing, one-off Charities Commission establishment costs and one-off costs in 2004/05 to establish a steering group on the regulation of financial intermediaries.

The Supplementary Estimates increase mainly reflects the increased funding related to travel costs in support of WTO negotiations and bilateral CEP/FTA's ($519,000), costs for running the tender process and contributing to the policy and legislative process around KiwiSaver ($679,000), and a transfer from Administration of Trade Remedies ($70,000) and Vote: Economic, Industry and Regional Development ($150,000) to meet fiscal pressures associated mainly with the Review of the Financial Products and Providers and activities related to the China Impact work programme

Output Expense > Administration of Part II Tariff Concessions

Description

This output expense provides for the administration of tariff concessions, as required under section 8 of the Tariff Act 1988, through the timely assessment of applications by importers for exemption from import duties as defined by the tariff concessions policy.

Quantity, Quality, Timeliness and Cost

(Performance standards are in brackets where applicable.)

Quantity

Applications by Importers:

543 (480) applications were lodged.

There are no apparent reasons why the number of tariff applications has increased by around 7 percent over last year's application numbers (509). Unilateral tariff reductions recommenced on 1 July 2006 and this may lead to the number of applications received tracking down.

Quality

Processes complied with the standards contained in current Ministerial delegations and the policies contained in the Tariff Concessions Guidance Manual with one decision reversed on appeal.

Timeliness

100% (90%) of initial decisions to advertise or decline an application were made within five working days of receipt.

95% (90%) of final decisions on applications were made within 10 working days of the end of the advertising period.

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	-	-	-	-
Other	361	361	188	167
Total Revenue	361	361	188	167
Expenses:
Annual appropriations	352	352	352	368
Other appropriations	-	-	-	-
Total Expenses	352	352	352	368
Net Surplus/(Deficit)	9	9	(164)	(201)

Sources of Revenue Other

	2006 Actual $000	2005 Actual $000
Concession administration fees	186	167
Inter-departmental cost recovery	2	-
Total Revenue Other	188	167

Revenue Other was derived from concession of administration fees.

Major Budget Variances

The variance between the Supplementary Estimates and actual revenue reflects declining revenue from concession of application fees from importers for exemption from import duty.

Output Expense > Administration of Trade Remedies

Description

This output expense provides investigative services to establish whether New Zealand industries require remedies to prevent injury caused by dumped or subsidised imports or sudden import surges.

The investigative service is conducted under the Temporary Safeguard Authorities Act 1987 and the Dumping and Countervailing Duties Act 1988 in relation to dumped and subsidised goods.

Quantity, Quality, Timeliness and Cost

(Performance standards and forecast volumes are in brackets where applicable.)

Quantity

An estimated 10 product-by-country investigations, reviews and reassessments, resulting from applications from New Zealand industries, will be under action during 2005/06.

Seven (ten) product-by-country dumping investigations, resulting from applications from New Zealand industries, were conducted during the year.

Fewer applications than expected were received from New Zealand industries.

Quality

Investigations and reporting are to be recognised by the parties involved as consistent with the requirements of either the Temporary Safeguard Authorities Act 1987 or the Dumping and Countervailing Duties Act 1988, provide no grounds for review under judicial review proceedings (no successful court challenges), and provide no grounds for World Trade Organisation dispute settlement proceedings (no successful dispute settlement action against New Zealand).

No parties have claimed that investigation outcomes were inconsistent with legislation, no judicial review challenges were made during the year, and no dispute settlement actions were taken against New Zealand during the reporting period. The European Commission (EC) has claimed that the Ministry's calculation of dumping margins in the investigation into Oral Liquid Paracetamol was inconsistent with the WTO Anti-Dumping Agreement. No formal action has yet been taken by the EC against the Ministry.

Timeliness

All (all) interested parties were advised of essential facts and conclusions on which a final determination was based, no later than 150 days from initiation.

All (all) final determinations were made no later than 180 days from initiation of an investigation.

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	1,084	1,014	1,011	1,032
Other	15	15	18	7
Total Revenue	1,099	1,029	1,029	1,039
Expenses:
Annual appropriations	1,099	1,029	1,029	1,039
Other appropriations	-	-	-	-
Total Expenses	1,099	1,029	1,029	1,039
Net Surplus/(Deficit)	-	-	-	-

Sources of Revenue Other

	2006 Actual $000	2005 Actual $000
Inter-departmental cost recovery	17	7
Miscellaneous	1	-
Total Revenue Other	18	7

Major Budget Variances

The Supplementary Estimates change reflected a transfer to Policy Advice - Business and Competition to meet cost pressures (-$70,000).

Output Expense > Registration and Granting of Intellectual Property Rights

Description

This output expense provides services relating to the administration of legislation providing for the protection of intellectual property rights in New Zealand by granting patents under the Patents Act 1953, registering trade marks under the Trade Marks Act 2002, registering designs under the Designs Act 1953, granting plant variety rights under the Plant Variety Rights Act 1987, providing registers of information relating to intellectual property, conducting hearings, and acting as a Receiving Office for the World Intellectual Property Organisation.

Quantity, Quality, Timeliness and Cost

(Performance standards and forecast volumes are in brackets where applicable.)

Quantity

Numbers of new applications:

6,232 (5,500) patents;
30,691 (24,000) trade marks;
1,448 (1,200) designs; and
99 (155) plant variety rights.

Numbers of renewals:

9,836 (8,100) patents;
11,071 (10,400) trade marks;
752 (610) designs; and
1,148 (1,000) plant variety rights.

All volumes are demand driven. Increased demand for both trade mark and design protection from clients (both domestic and foreign) is consistent with overseas trends.

Quality

99% (99%) of all decisions to accept, grant or register intellectual property rights made by the Intellectual Property Office and the Plant Variety Rights Office were upheld.⁴

Timeliness

99% (98%) of completed applications⁵ were receipted, acknowledged and a filing date confirmed within one clear business day of receipt.

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	85	85	85	85
Other	10,442	11,542	12,148	11,819
Total Revenue	10,527	11,627	12,233	11,904
Expenses:
Annual appropriations	9,323	10,423	10,333	9,352
Other appropriations	-	-	-	-
Total Expenses	9,323	10,423	10,333	9,352
Net Surplus	1,204	1,204	1,900	2,552

Sources of Revenue Other

	2006 Actual $000	2005 Actual $000
Trade mark applications	3,016	2,846
Trade mark renewals	2,772	2,526
Patent applications	1,895	1,874
Patent renewals	3,595	3,522
Other fees	744	946
Total Fees	12,022	11,714
Inter-departmental cost recovery	63	42
Net gain on sale of fixed assets	-	4
Miscellaneous	63	59
Total Revenue Other	12,148	11,819

Major Budget Variances

The Supplementary Estimates change mainly reflected the marginal cost increases associated with processing higher volumes of trade mark applications and renewals.

The variance between the Supplementary Estimates and actual Revenue Other has been largely due to trade mark application volumes being 28% higher than expected. (30,691 actual applications versus 24,000 forecast applications). This trend is consistent with that being observed overseas.

The variance between 2005/06 and 2004/05 for actual expenses mainly reflects the marginal cost increases associated with processing the increased volumes.

Output Expense > Administration of Insolvencies

Description

This output expense provides services relating to the administration of bankruptcies and liquidations by the Official Assignee pursuant to the Insolvency Act 1967 and the Companies Act 1993 and the management or disposal of property restrained or forfeited under the Proceeds of Crime Act 1991, and provides enforcement functions under the Insolvency Act 1967.

Quantity, Quality, Timeliness and Cost

(Performance standards and forecast volumes are in brackets where applicable.)

Quantity

Numbers administered:

3,087 (2,700) bankruptcies;
151 (180) liquidations; and
41 (25) proceeds of crime orders.

There has been an increasing trend in the number of bankruptcies over the year.

The number of liquidations administered is lower than forecast due to an increased number of liquidations being administered by private liquidators.

The increase in proceeds of crime orders is indicative of greater recourse to this legislation by the police.

Quality

The annual average quality assurance rating for estate administration as assessed from an internal audit programme demonstrates that at least "an acceptable level" (level 2⁶) of compliance was achieved.

Timeliness7

To achieve a maximum percentage of case closures as measured against total cases received:

91% (80%) of cases that are between six months and one year old were closed;
97% (90%) of cases that are between one and two years old were closed; and
99% (95%) of cases that are between two and three years old were closed.

Targets were exceeded due to improvements/streamlining of processes and systems.

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	8,148	8,648	8,648	8,148
Other	1,709	1,709	992	766
Total Revenue	9,857	10,357	9,640	8,914
Expenses:
Annual appropriations	9,141	9,641	9,639	9,181
Other appropriations	-	-	-	-
Total Expenses	9,141	9,641	9,639	9,181
Net Surplus/(Deficit)	716	716	1	(267)

Sources of Revenue Other

	2006 Actual $000	2005 Actual $000
Fees and fines	883	715
Net gain on sale of fixed assets	1	-
Inter-departmental cost recovery	100	50
Miscellaneous	8	1
Total Revenue Other	992	766

Major Budget Variances

The variance between the Supplementary Estimates and actual Revenue Other arises from the Official Assignee managing fewer company liquidations and greater numbers of bankruptcies with insufficient assets, which have resulted in lower than forecast commissions being received in 2005/06.

The Supplementary Estimates increase ($500,000) reflects the increase in the number and complexity of Proceeds of Crime (PoC) forfeiture orders and in the value of PoC assets being managed by the Official Assignee.

The variance between 2005/06 and 2004/05 for actual Revenue Other reflects the circumstances outlined above.

Output Expense > Registration and Provision of Statutory Information

Description

This output expense provides services relating to the registration and provision of a range of documents and information required to be filed on a public record by corporate and non-corporate entities, insurance and superannuation funds, issuers of securities and holders of securities over personal property interests, motor vehicle traders, and the provision of information services related to the same. It also provides a prosecution and enforcement function under the Companies Act 1993, Securities Act 1978 and Corporations (Investigation and Management Act) 1989.

Quantity, Quality, Timeliness and Cost

(Performance standards and forecast volumes are in brackets where applicable.)

Quantity

Companies Office

Numbers of material documents filed:

65,590 (62,500) company incorporations of which 99% (98%) were electronic;
976 (950) incorporated societies, all of which were manual;
1,027 (1,000) incorporations of other entities, all of which were manual;
96,176 (90,000) name approvals of which 99% (99%) were electronic;
656 (700) prospectuses;
352,402 (328,500) annual returns of which 98% (95%) were electronic; and
635,453 (536,000) personal property security interest registrations.

All volumes are demand driven.

Electronic searches conducted:

212,400 (557,000) electronic company searches; and
2,705,662 (1,465,000) Personal Property Securities Register (PPSR) electronic searches.

The decrease in electronic company searches (67% less than 2004/05) reflects the changes to the searching function and charges implemented in August 2005.

PPSR searches continue to reflect the ease of access and increasing public awareness of the register.

Other services:

26,995 (20,000) company dissolutions were actioned; and
1,220 (2,500) incorporated society dissolutions were actioned.

The increase in companies requesting removal from the register reflects a trend toward single use companies (such as Loss Attributing Qualifying Companies) for property ownership.

Insurance and Superannuation Unit

605 (612) Trustee Annual Reports were filed; and
61 (14) new scheme registrations were actioned.

A larger number of new one-person schemes were registered than expected.

Quality

Companies Office

99% (99%) of documents entered into the database were free of material errors, as defined in the Companies Office Standards^8, for both electronic and manual information.

99% (99%) of images entered into the database were to the required standard to ensure clarity, accuracy and completeness of the data captured.

Timeliness

100% (99%) of material documents⁹ were processed within one clear business day of receipt for paper documents and within 45 minutes of receipt for documents filed electronically.

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	149	149	149	149
Other	9,981	11,227	11,336	11,210
Total Revenue	10,130	11,376	11,485	11,359
Expenses:
Annual appropriations	16,356	17,206	17,166	16,806
Other appropriations	-	-	-	-
Total Expenses	16,356	17,206	17,166	16,806
Net Deficit	(6,226)	(5,830)	(5,681)	(5,447)

Sources of Revenue Other

	2006 Actual $000	2005 Actual $000
Annual return fees	1,382	1,537
Internet searching fees	2,593	2,664
Incorporation of companies	3,064	2,940
PPSR registration	1,686	1,555
Name approval	924	875
Financial reporting fees	18	120
Late filing fees	457	454
Charges	-	-
Other fees	991	979
Total fees and fines	11,115	11,124
Net gain on sale of fixed assets	13	6
Inter-departmental cost recovery	176	69
Miscellaneous	32	11
Total Revenue Other	11,336	11,210

Major Budget Variances

The Supplementary Estimates increase in expenditure mainly reflected marginal cost increases associated with processing an increase in transaction volumes of company incorporations and higher activity related to the Personal Properties Security Register.

The variance between 2005/06 and 2004/05 for actual expenses mainly reflects the marginal cost increases associated with processing an increase in volumes.

Output Expense > Administration of Licensed Building Practitioners

The appropriation for this output expense was transferred to the Department of Building and Housing on 1 November 2004.

Cost

(Figures are GST exclusive)

	2006 Main Estimates $000	2006 Supplementary Estimates $000	2006 Actual $000	2005 Actual $000
Revenue:
Crown	-	-	-	-
Other	-	-	-	-
Total Revenue	-	-	-	-
Expenses:
Annual appropriations	-	-	-	280
Other appropriations	-	-	-	-
Total Expenses	-	-	-	280
Net Surplus/(Deficit)	-	-	-	(280)

⁴ Excludes amendments made at a client's request where the error was not caused by IPONZ.

⁵ A completed application is one where all information required by the relevant legislation has been provided, and the prescribed fees have been paid in full.

⁶ The internal audit programme rates the quality of estate administration on a rating level of 1 to 5, with 1 being the highest and 5 being the lowest. Each rating level is defined as follows: 1 is a high level of compliance; 2 an acceptable level of compliance; 3 a marginal level of compliance; 4 an unacceptable level of compliance; 5 the office does not comply.

⁷ Covers both bankruptcies and liquidations administered by the Insolvency and Trustee Service.

⁸ Companies Office Standards dated 12 February 2003.

⁹ Material documents are all company registration documents except for client modified Annual Returns.

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Printed: 26/11/2009